preview

Nike: Moving Beyond Sweatshops

Better Essays
Nike Inc takes pride in being an ethical company. Nike places their responsibility to their stakeholders, internal and external, at the top of their priority list. They expend great of time, money, and resources to ensure that they are fulfilling their ethical duty, and achieving the highest standards of ethical responsibility. Because of Nike’s efforts to maintain their ethical integrity, Nike is a good corporate citizen.

Nike’s motto says that Nike Inc was founded on a handshake. Their goal from the beginning was to build business with their partners based on trust, teamwork, honestly, and mutual respect. “Nike has a commitment to management practices that respect the rights of all employees, including the right to free association and collective bargaining, a commitment to minimizing their impact on the environment, providing a safe and healthy work place, and promoting the health and well-being of all employees.” This is Nike’s code of conduct; which is translated and posted in all major Nike workplaces across the world, which exemplifies the commitment to ethics and the Nike stakeholders ("Nike's Labor Practices." , ICMR. 2002).

Nike views all of its stakeholders as important components to the success and sustainability of Nike Inc. According to the Stanford Research Institute in 1963, a stakeholder is a member of a group whose support is necessary for the firm to continue to exist. In other words, a stakeholder is any group that has a vested interest in operations of a firm (Stanwick 35). In Nike’s code of ethics, three stakeholders are mentioned. The stakeholders that are mentioned in the code of conduct are management, employees, and the environment. If it were not for those three components, Nike would not be able t...

... middle of paper ...

...sestudies/catalogue/Business%20Ethics/BECG018.htm>

Archie B. Carroll, Ann K. Buchholtz (2008). Business and Society: Ethics and Stakeholder Management. South-Western College Pub; 7 edition.

Nike's New Game Plan for Sweatshops. Online Extra.2004, 09 20. Retrieved April 02, 2014, from Business Week:

Poulomi, S. (2004, 11 08). "Nike develops a 'balanced scorecard' for ethics integration." Ethical Corproration. Retrieved April 02, 2014, from

Pugatch, T. (1998, 04 28). External Monitoring Recommendations. Retrieved April 02, 2014, from

Stanwick, P. S. (2009). Understanding Business Ethics. Upper Saddle City,NJ: Pearson Prentice Hall, 2009. Print.